A four-month streak of rising resale prices for homes in the Twin Cities has ended. The Case Shiller survey tracks the resale price of homes in 20 metro area. In the Twin Cities in August, the resale price dropped .3%, according to the survey which was released this morning. The average resale price of a home is now about what it was in December 2008. The resale price, however, is 2.9% above what it was a year ago.

City

Change from

style='display:none'>July

July

Portland

0.9%

Detroit

0.5%

Cleveland

0.3%

New York

0.2%

Las Vegas

0.1%

Denver

-0.1%

Nationwide

-0.2%

San Francisco

-0.3%

Washington

-0.3%

Miami

-0.3%

Boston

-0.3%

Minneapolis

-0.3%

Los Angeles

-0.4%

Chicago

-0.4%

Charlotte

-0.4%

Tampa

-0.5%

San Diego

-0.6%

Atlanta

-0.8%

Seattle

-0.8%

Dallas

-1.1%

Phoenix

-1.3%

“Even saying the market is ‘flat’ is sugar-coating it,” David Blitzer, who conducts the survey, said.

About the blogger

Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts where he was VP of programming for Berkshire Broadcasting Co. He was an editor at the RKO Radio Network in New York, and WHDH Radio in Boston. He is the founder of the MPR News’ website. He is a private pilot and flies an airplane he built.